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2This whitepaper is a collaborative effort, made possiblethrough the invaluable contributions of our partners andexperts. We extend our deepest gratitude to LexisNexisRisk Solutions, Singapore FinTech Association, and thedistinguished speakers and industry thought leaders whoparticipated in our roundtable discussions. Their insightsand expertise have enriched this exploration of cross-borderpayments in APAC.© 2025 LexisNexis Risk SolutionsAcknowledgements © 2025 LexisNexis Risk Solutions3ContentsExecutive SummaryRegional Trends and Strategiesfor Account-to-Account Cross-Border PaymentsEnabling Error-Free andSeamless Customer Experiencein Cross-Border PaymentsApproaches to CombattingAuthorized Push Payment (APP)Fraud in APACConclusionKey Themes from theRoundtable Discussion031805091516 The Asia-Pacific (APAC) region is undergoing atransformative journey in the realm of cross-borderpayments, driven by the aspirations to make thesetransactions as seamless as domestic ones.This whitepaper explores the regional trends, strategies, andcollaborative efforts among traditional finance institutions,fintech companies, and governments.1.Executive SummaryPublicStakeholders LexisNexis® Risk SolutionsThe Journey Towards Frictionless Cross-Border Payments in APACIt delves into the aspirations for a frictionless cross-borderpayment landscape, with a focus on:•the roles of public and private stakeholders•user experience and costs,•the security measures to combat authorized push payment(APP) fraud.Security& RegulationUser Experience& CostPrivateStakeholdersFuture ofPaymentsExplains the role of public andprivate collaboration. The conflictof user experience with the securityand necessary friction to be calledout while referring to the figure. © 2025 LexisNexis Risk Solutions4Executive SummaryRegional Trends and Strategiesfor Account-to-Account Cross-Border PaymentsEnabling Error-Free andSeamless Customer Experiencein Cross-Border PaymentsApproaches to CombattingAuthorized Push Payment (APP)Fraud in APACConclusionKey Themes from theRoundtable Discussion031805091516 Key FindingsThe paper also highlights the balance between speed, safetyand cost, the role of regulation, the importance of interoperability,and the potential of new technologies.This whitepaper explores the journey towards frictionless cross-border payments, drawing insights from a roundtable discussionwith industry experts.•Key stakeholders such as banks, fintechs, regulators andconsumers all play a crucial role in shaping the future of cross-border payments•Balancing security measures with a frictionless user experienceremains a key challenge•Regulatory harmonization across jurisdictions is essential forseamless transactions•Cross-border payments have improved but challenges remain LexisNexis® Risk SolutionsThe Journey Towards Frictionless Cross-Border Payments in APACin terms of speed, cost, and user experience as compared topayments in the domestic transactions•Technological advancements such as APIs, blockchain, and AIoffer promising solutions for improving payment efficiency andsecurity•Digital wallets and mobile payments offer opportunities toexpand access to cross-border payments and therefore improvefinancial inclusion for customers who rely on cash-based ortraditional money remittance methodsThe payment industry in APAC is moving towards moreinteroperable, transparent, and efficient cross-border paymentsystems. However, continued collaboration and innovationis necessary to overcome remaining security and operationalobstacles. This is key for to ensure friction-less payment journey. © 2025 LexisNexis Risk Solutions5ContentsExecutive SummaryRegional Trends and Strategiesfor Account-to-Account Cross-Border PaymentsEnabling Error-Free andSeamless Customer Experiencein Cross-Border PaymentsApproaches to CombattingAuthorized Push Payment (APP)Fraud in APACConclusionKey Themes from theRoundtable Discussion031805091516 LexisNexis® Risk SolutionsThe Journey Towards Frictionless Cross-Border Payments in APAC2.Regional Trends and Strategies for Account-to-Account Cross-Border PaymentsCross-border payments in the APAC region have traditionally beencharacterized by inefficiencies, high costs, and varying levels oftransparency. According to an article by The PaymentsAssociation, 55% of firms lose 4-5% of revenue per month due tomanual tracking and reconciling transactions. These challengeshave been exacerbated by disparate regulatory frameworks andthe complexity of international transactions. While there issignificant advancements in domestic payments across the APACregions, similar advancements in cross-border payments havebeen slow.Current State of Cross-BorderPaymentsImproving cross-border payment systems is crucial for fosteringeconomic growth, promoting international trade, and enhancingfinancial inclusion. A more efficient and seamless paymentinfrastructure can reduce transaction costs, mitigate risks, andimprove overall economic stability throughout the AP